SUF settles court case... BOUNCE TODAY?
Was this the cause of spike a week or so ago?
SulphCo Announces Preliminary Approval of a Proposed Settlement of Derivative Claim; Receives NYSE Amex Notification of Continued Listing Standard Deficiency; Will Submit Plan for Continued NYSE
SulphCo, Inc. (the "Company" or "SulphCo") (NYSE-Amex:SUF) announced today, that on June 30, 2010, the 127th Judicial District Court of Harris County, Texas preliminarily approved a proposed settlement regarding the derivative claim against certain current and former officers and directors of the Company
Upon approval by the District Court, the proposed settlement would, among other actions, result in the dismissal of the claims asserted in the derivative claim with prejudice. The terms of the proposed settlement would not have a material impact on the financial condition of the Company. A copy of the proposed settlement will be posted to the Company's website at www.sulphco.com .
The Company also announced today, that on June 30, 2010, the Company received notice from the staff of the NYSE Amex LLC (the "Exchange") that, based on the Exchange's review of publicly available information, the Company does not meet certain of the Exchange's continued listing standards as detailed in the Exchange's Company Guide. Specifically, the Exchange noted the Company does not meet a minimum stockholders' equity requirement for continued listing and it has experienced losses from continuing operations and net losses in its five most recent fiscal years.
The Company is entitled to submit a plan of compliance to the Exchange by July 30, 2010 detailing the actions the Company intends to undertake to regain compliance with the continued listing standards by December 30, 2011.
Market Data 
Markets 
AI
